How to save money on your family holiday

The great thing about family holidays is that it is an opportunity for everyone to soak up some sun and spend some quality time together.

The bad thing about family holidays is that they always correlate with peak times and so can end up being very expensive.

Though not much can be done about the higher priced flights or premium hotels and villa rentals, there are lots of small ways you can scrape back money that actually add up to a pretty impressive saving.

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We spoke to travel money specialists FairFX to find out exactly how a few smart moves could save you thousands.

1. Be flexible with the length of your holiday | save up to £176

If you're not fixed being away for exactly 14 nights, check out the cost of departing on alternative days. 'We found that a flight from London Gatwick to Malaga on Saturday, August 5, returning two weeks later cost £232 per person,' Fair FX say.

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However, coming back a day earlier will reduce the cost down to £188. It's also cheaper to return home a day later at £192. That's a saving of £44 per adult!

2. Visit two holiday hotspots for less | save up to £76

Save money and see a bit more this summer by considering a stopover en route to your destination.

Play around with available flights and you could find that breaking up your holiday and exploring two hotspots works out cheaper. 'We found that a direct flight from London Stansted to Barcelona cost £76 on Friday, August 25,' the FairFX experts say.

However, flying to Milan for two nights before travelling on to Barcelona came in at £57.

3. Switch your home airport | save up to £828

You may have an airport close to home but are you paying over the odds for the convenience?

Sometimes departing from a bit further afield can mean big savings – more than enough to justify your travel time. Plus, it's a fabulous opportunity to have a family singalong on the journey to the airport!

4. Not bothered by unsociable flights? | save up to £793

Travelling overnight may not be the easiest option, especially if you're holidaying with children. But is the inconvenience worth £800? The least popular flight times will mean you're likely to fork out less for your holiday.

For example, a week package holiday for a family of four to Rhodes from Manchester Airport dropped from £6,854 to £6,061 if you're happy to travel during the night.

5. Book your parking in advance | save up to £22

Set on driving to the airport? Book your parking in advance and scour the internet for deals – you can even get discounts by signing up to the airport's free mailing lists. 'For example, booking parking in advance at Birmingham Airport knocked the price down from £108 to £86,' the experts say.

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And, you get all the satisfaction of having everything organised early so no last-minute stress.

6. Be flexible with your dates | save up to £664

Because of the sheer number of people heading off on holiday, the summer months are obviously more expensive but this doesn't mean you can't find cheaper dates. Play around with your travel dates to find the cheapest fares – lots of airlines now let you select a 'flexi' option where they show you cheaper flights around your preferred date of travel.

'We found huge price variations across the month of August,' explain FairFX. 'For example, if you want to book a flight from Manchester to Lisbon in August, prices range from £30 if you depart on Wednesday 30th August to £100 on Friday 4th August.'

7. Make sure you book luggage during flight booking | save up to £40

Airlines, such as Ryanair, charge up to £50 for a small 15kg bag checked in at the airport, it's just £40 to do this online. This is an extra £40 for a family of four.

With car hire rental companies such as Europcar charging £14 a day to hire a Sat Nav, this could cost you a whopping £196 over a two break. Why not hire one on ebay before you set off for as little as £11 for two weeks and save yourself £185. Or, if you're somewhere roaming charges don't apply and unlimited data, you can use the map on your phone.

9. Follow the pound | save up to £70

If you're open-minded about holiday destinations, then there are considerable savings to made by choosing somewhere with a favourable exchange rate. You could even end up visiting a dream destination you never thought you'd be able to afford!

Currency analysis by FairFX reveals you can get 8% more for your money in New Zealand compared to three months ago – that's more than £70 for every £1,000 exchanged. You'll also get 7% more for your money in Australia and Canada, 6% in Jamaica and 5% in South Africa and the Seychelles.

If you're only looking for short haul break this summer, then Croatia, Bulgari and Hungary are all good value destinations for those travelling with pounds. Their exchange rates are some of the strongest in Europe.

10. Change money ahead of time | save up to £109

You'll miss out on better rates and could end up paying as much as 18% more for your currency at the airport, meaning you could lose £118 for every £1,000 exchanged.

'We advise our customers to start thinking about currency even before they book their holiday to get the best value,' the travel experts at FairFX say. 'Set up a currency email alert so you can buy when the rates are in your favour.'

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